Monitoring Agency Report of the Company for the Q-1 of F.Y.2025-26, ended on June 30, 2025.
ORCHPHARMA · price
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Orchid Pharma submitted the Q1 FY26 monitoring agency report from CARE Ratings covering the use of Rs 400 crore raised via a Qualified Institutional Placement (QIP) in June 2023. As of June 30, 2025, Rs 269.69 crore has been deployed and Rs 124.85 crore remains unutilized, parked in Yes Bank fixed deposits earning between 5.05% and 7.70%. Loan repayment (Rs 141 crore) and general corporate purposes (Rs 63.72 crore, revised upward from Rs 60.98 crore due to lower issue expenses) are fully utilized. Only Rs 0.36 crore of the Rs 99.82 crore earmarked for the new Alathur API block and Rs 64.61 crore of the Rs 90 crore planned for the Jammu manufacturing facility have been spent. The company acknowledged project delays, mainly due to slow land acquisition in Jammu, though it says boundary/building work has started and purchase orders for major equipment have been placed.
Investors should note that nearly 32% of QIP proceeds are still unutilized and both capex projects (Jammu and Alathur) are behind schedule, which could push back future revenue contributions. However, the loan repayment leg is complete, no deviation from stated objects has been flagged, and idle funds are earning interest in bank FDs in the meantime.